This study aims to examine the stock market’s reaction to the announcement of the implementation of the COVID-19 lockdown policy, examining the differences in abnormal return, and the total volume activity in company shares in Indonesia, Singapore, and Malaysia in responding before and after the announcement of the lockdown policy in the countries. This study uses the even study method and is based on secondary data from news portals and websites. The population and sample used in this study are companies listed in the index with the largest capitalization in each country, including LQ45 in Indonesia, STI in Singapore, FBM KCLI in Malaysia, and SET50 in Thailand. The sample collection technique is based on purposive sampling technique. The research variables are the COVID-19 lockdown policy announcement, abnormal return, trading volume activity (TVA) in the form of trading volume in the companies as the sample group. The results show that the announcement of COVID-19 lockdown policy did not significantly influence the reaction of the capital market but was still used as a basis to make investments decision. The announcement of the COVID-19 lockdown, both before and after the announcement, did not have a significant effect on abnormal returns and trading volume activity in Indonesia, Singapore, Malaysia, and Thailand capital markets.

This study aims to determine the development of Technological Pedagogical and Content Knowledge (TPACK) biology education pre-service teachers using research-based biotechnology book equipped with a virtual laboratory. This research was conducted at the Biology Education Program-University of Jember, which involved 32 pre-service teachers who took the biotechnology course. This research applied Reflective, Recursive, Design, and Development (R2D2) design model and paired sample t-test to figure out differences between before and after using the developed product. The validation process involved six experts of content, media development, and user. The results of the book and virtual laboratory validation showed an average value of 86.17%, which is classified as a very valid category. The pre-service teacher response revealed an excellent value of 80.58%. Subsequently, a biotechnology book and virtual laboratory were used to test the TPACK competencies level of biology pre-service teachers. The paired sample ttest results showed 0,000 values, which means there were significant differences before and after the use of the research-based book and virtual laboratory developed.To summarize, a research-based biotechnology book equipped with a virtual laboratory can increase TPACK of biology pre-service teachers and recommend them as tools to teach biotechnology.

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